More Australians in work than ever before

More Australians are in work than ever before, with the latest jobs figures showing employment at a record high of 12,631,300.

More Australians are also in full-time work than ever before.

The latest labour force figures released today by the ABS underscore the strength and resilience of the Australian labour market, with seasonally adjusted employment surging by 44,000 in August 2018 (exceeding market expectations), to stand at a record high.

The seasonally adjusted unemployment rate was steady in August, at 5.3 per cent, its equal lowest rate since August 2012, and remains 0.2 percentage points lower than it was in August 2017.

“1,144,500 jobs have been created since the Government came to office in 2013, showing our plan for a stronger economy is working,” Minister O’Dwyer said.

“The Government has put in place the right policy settings which continue to pay dividends, with our economy creating, on average, more than 800 net new jobs per day over the last 12 months.”

Importantly, full-time employment increased strongly, by 33,700 over the month, to stand at a record high of 8,630,700, and is now an impressive 202,100 (or 2.4 per cent) higher than it was a year ago.

Seasonally adjusted part-time employment also rose, by 10,200 in August, to stand at 4,000,600, and is now 104,300 (or 2.7 per cent) higher than a year ago.

The seasonally adjusted participation rate also edged higher over the month, from 65.6 in July 2018, to 65.7 per cent in August 2018, as stronger economic conditions encouraged more workers to enter the labour market.

Encouragingly, female full-time employment rose by 12,500 in August 2018, and has increased by 78,600 (or 2.5 per cent) over the last year, to stand at a record high, of 3,168,200.

Minister O’Dwyer said that while ABS labour force figures can jump around from month to month today’s data continue to reflect a strong labour market and highlight the success of the Government’s efforts to stimulate ongoing, sustainable jobs growth.

In this regard, forward partial indicators of labour market activity suggest that employment should continue to expand in the period ahead albeit at a slower rate than recorded in 2017.

“Our plan for a stronger economy is working, but there is more work to do,” Minister O’Dwyer concluded.